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a little braze would be a fine fix. it will help with the crankcase pressure, helping oiler and breather work properly if you do, keep dust out, and I would go forward and never look back on that engine if it was my great grandfathers, doing whatever it took to have it back running again, in fact i would probably trade my favorite or most expensive engine i currently own (which is nothing to sneeze at) to have one that was my grandfathers or great grandfathers

Thanks for the encouragement. I feel exactly the way you do. My great great grandfathers civil war Colt Navy has the wrong barrel and homemade hand grips that will never be replaced in my lifetime.
I already know that by the time my father finally sees the M run again I will have invested far more money into it than it's market value. As long as I live and breathe it will NEVER be sold, so market value is irrelevant!
If I can find used replacement parts inexpensively enough I can always hang the broken ones on the wall in my barn. For the time being the goal is to replace the missing components. I probably will not even paint it. It will just get a good electrolytic cleaning an annual coating of my homemade waxoyl.

Definitely looks restorable. The WICO EK is readily available. I helped another Staker find one at the Jacktown show, that was hot (needs a lead out tower), for $150 - cheap in my book. Hose all moving parts with a good solvent like Kroil or Seafoam, and let it set a week or so, soaking daily. Take your time removing parts - the engine did not get stuck in a day, and it won't come apart that fast either! Read the article I wrote for the GEM - the engines I restored certainly were close to the one you have. Take lots of pictures as you work, and write what you did. Submit it to the GEM, and it will get published! Been there did that many times

I'm probably going to bite the bullet and get one from hitandmiss enterprises so It is more likely to last for the next 70 years. You are correct about time and rust. What's a week, or a month in the grand scheme of things? A motorcycle painter I used to work with always told impatient bikers ....do you want it right, or right now? When my hobby gets frustrating I walk away, otherwise things get broke, especially the bank account! I have learned that I don't really own my resurrected relics. I'm just their temporary caretaker for as long as I ride this planet!

An update on my great grandfather's 1-1/2 hp M, and a few more questions.

I removed the nameplate and was able to make out the remaining numbers with a jewelers loupe. It's a 1931.

I have been able to dismantle it without damage and it has much neglect, abuse and rust but not much wear. I spent a lot of time watching old shopdog Sam, who I can really relate to.

The intake valve was nearly rusted in two and the chamber was filled with rust and something metallic.

I was unable to remove the governor side gib key using several attempts and different methods involving welding and pullers. All of the attempts to remove the gib key, unseized the governor flyweights, obviating the need to remove the flywheel. Although cleaning and painting would be more thorough. There were also ancient unsuccessful attempts to remove the drive pulley, and there is evidence that they drilled into the gib key for some reason. Maybe it became loose and they tried to stake it because they were unable to remove the pulley and drive it home properly. Has anyone seen that sort of butchery?

I also discovered that someone installed the piston on to the rod upside down, so I need to remove the wrist pin to correct it. Amazingly it isn't burned up or sloppy.
There is just a nut and a stud securing the wrist pin not a bolt, is that wrong too?